This week, gold prices in 10 grams climbed to their highest level since mid-April. Meanwhile, global spot gold prices also crossed the $1,800 per ounce mark. Last month, gold futures witnessed a sharp rebound due to a better-than-expected slowdown in US inflation and Fed’s less hawkish remarks. For December, ICICI Direct expects gold to likely breach the ₹54,000 level as there has been firmness in the trend. Expectations of a smaller size rate hike by central banks and further slowdown in inflation print have stalled the dollar which makes safe havens like gold one of the preferred picks.